Trading on the New York Stock Exchange floor was halted for nearly four hours. The stoppage shortly after 11:30 a.m. local time Wednesday, with all screens displaying a “No quotation” message, according to eyewitnesses. Trading resumed around 3:10 p.m. “We’re currently experiencing a technical issue that we’re working to resolve as quickly as possible. We […]

U.S. Capitol Washington, D.C. 9:10 P.M. EST THE PRESIDENT: Mr. Speaker, Mr. Vice President, Members of Congress, my fellow Americans: We are 15 years into this new century. Fifteen years that dawned with terror touching our shores; that unfolded with a new generation fighting two long and costly wars; that saw a vicious recession spread […]

Gold is headed for its biggest two-day drop in 30 years being below $1,400 per ounce for the first time since March 2011 in the wake of underwhelming Chinese growth data. Spot gold dropped as low as 6.3 percent to below $1,384.69 an ounce, dropping more than $30 in a matter of minutes at one […]

In a bid to secure an EU bailout, the Cypriot parliament has adopted laws creating a “solidarity fund” to pool assets as the basis for an emergency bond issue and allowing the government to impose capital controls for the country’s banks. Nicosia introduced emergency legislation in the parliament late on Thursday to secure a bailout […]

Two American entrepreneurs have made plans to build a floating colony in the Pacific Ocean, where they will bring the world’s most intelligent scientists that are unable to attain a visa to enter the US. The floating colony, which will consist of a large cruise ship parked 12 miles off the Californian coast, will host […]

The United States is roughly $17 trillion in debt, but President Barack Obama says there’s no reason to worry. Speaking with ABC News correspondent George Stephanopoulos this week, Pres. Obama downplayed concerns of an impending financial catastrophe, claiming quite to the contrary that the country is on track to turning the economy around. “We don’t […]

Newswise — The federal budget sequester went into effect March 1 after a lack of Congressional action to avoid the automatic spending cuts. Effective April 1, Medicare payments to hospitals, doctors, and other health care providers will be reduced by 2%. In the weeks leading up to the March 1 deadline, the Senate twice voted […]

The Dow Jones industrial average has hit the highest intraday level in all of its history despite US budget uncertainties. The rally was fueled by reports about China’s plans to drastically increase spending. The Dow Jones index on Tuesday hit a new all-time record, surging to intraday levels not seen in over five years. The […]

The Desert Hot Springs Chamber of Commerce met for its monthly breakfast at Mission Lakes Country Club on Wednesday, February 27, 2013. Guest speaker was Bob Schneider, owner and operator of Desert Adventures (red-jeep tours). He gave a fascinating autobiographical account of his background in corporate marketing and how he came to be a business […]

Poor Americans will be the first to suffer from the looming sequester budget cuts, Margaret Bogenrief of ACM Partners told RT. The harsh budget cuts are set to begin in the US on Friday at midnight. The deadlock between the Republicans and the Democrats in the US Congress makes any kind of last-minute deal to […]